Press
Boston Coworking Markets Welcome SwingSpace
12/6/2016 - Press Release

Boston, MA – December 6, 2016 - SwingSpace has expanded to Boston to help companies find their best possible coworking solution. Established in Washington, DC, SwingSpace is the place to self-search coworking options by selecting a desired neighborhood, number of desks, and monthly budget. Boston is an ideal market for SwingSpace because of the dense innovative start-up community and the increasing number of coworking organizations serving that community. SwingSpace has the largest growing number of Boston Area coworking locations, allowing any user to quickly compare their options.

In addition to helping prospective tenants find coworking, SwingSpace is helping coworking companies further define themselves through photo and video. Casey Hogan, Community Manager at The Food Loft, explains her experience, "Working with SwingSpace could not have been easier. When we first got in touch, all we had to do was set a date, have a few tenants ready to talk about The Food Loft, and their team took care of the rest. They got great footage and photos and made us an awesome profile in no time. We know this will help us grow our reach and find more food companies that can benefit from our space. We're so thrilled SwingSpace is launching in Boston, and are thankful to be part of their launch here!" Other leadership in coworking are pleasantly surprised with the efficiency of the posting process. Wes Walker, owner and president of Intelligent Office, Boston, shares "The setup and production of our listing was completely seamless. The SwingSpace team came to our center, unobtrusively interviewed selected members for testimonials and videoed our space. The quality of the video production was excellent."

SwingSpace is stripping the vail of the assumption that all coworking is the same, by highlighting what makes each company and location unique. By doing this, users and coworking companies alike can strengthen their specific community, whether non-profit, tech, food, government, law or anything in-between. Pioneer to the coworking craze and current co-founder of Boston Offices, Mark Wiatrowski, comments "SwingSpace is delivering office space like the TV news. They are taking a very modern approach, both tech and design wise, to leasing office space. Online videos allow users to grasp a truth about each space without physically having to tour." The goal is to visit www.swingspace.com and seamlessly go from #searchtoseat.

Co-founders, Richard McBride (SwingSpace CEO) and Zak Kidd (SwingSpace COO) started SwingSpace in Washington, DC because they realized that small and growing companies would be better served with a streamlined office leasing process. The platform has become the largest marketplace for coworking in that area.

Market Driver and Boston Lead for SwingSpace, Bridget Brown, exclaims "It’s exciting to help create the solution to finding the right small office space. Getting to share that solution and breaking down the different flavors of coworking in the Greater Boston Area is a treat. I love revealing some of the hidden gems of coworking in different markets."

Visit www.SwingSpace.com for more information and to check out available listings that are added daily.

SwingSpace Expansion into Chicago Coworking Markets
11/16/2016 - Press Release

Chicago, IL – November 16, 2016 - SwingSpace is launching in Chicago to help organizations compare their best coworking options. Established in Washington, DC, SwingSpace has created a platform where prospective tenants can easily search for coworking spaces by desired neighborhood, desks and budget. Chicago is an ideal second market for SwingSpace because of the vibrant local start-up community and the large number of coworking organizations serving that community. SwingSpace has the largest collection of Chicago based coworking locations, allowing any user to quickly compare their options.

In addition to helping prospective tenants find coworking, SwingSpace is helping coworking companies stand out in a competitive environment. Sharris Wilson of MakeOffices in Streeterville says, "Our location has not had much visibility in the past, so the photos and video that SwingSpace produced has helped future tenants to see what we have available." Other growing coworking organizations are finding value with their SwingSpace profile. Kerry Butz, Community Manager at Assemble Shared Office says, "SwingSpace did such a professional job at advertising our available space. They have given us the opportunity to reach a larger demographic and made it possible for future tenants to join the energetic and eclectic community at Assemble Shared Office."

Co-founders, Richard McBride (SwingSpace CEO) and Zak Kidd (SwingSpace COO) started SwingSpace in Washington, DC because they realized that small and growing companies would be better served with a streamlined office leasing process. The platform has become the largest marketplace for coworking in that area.

Chicago native and Co-founder of Forum Coworking, Jason Volmut says, "When I first met Richard at the Chicago Convene event, I realized that somebody had finally gotten the concept; this is how office leasing must work to accelerate small business entrepreneurship. We built Forum to become a staple in Chicago, and SwingSpace has helped to revolutionize how people can make informed and confident decisions about where they should work."

Market Maker, Samantha Buzaid, who is leading the Chicago expansion for SwingSpace, says "searching and leasing office space has never been easier. We are excited to expand into different markets across the country, bringing office and co-working solutions to owners and small businesses everywhere."

Visit www.SwingSpace.com for more information and to check out available listings that are added daily.

SwingSpace Places ZogSports, the Local Leader in Recreation Sports, into one of DC’s most Desired Locations
6/2/2016 - Press Release

Online marketplace for small office space in Washington DC allows growing companies to easily find and lease office space

Washington, DC -- SwingSpace has created an exchange for companies looking for flexible ways to manage their real estate and efficiently turn underused office space into "Swing Space." In May in Dupont Circle, SwingSpace helped a growing social sports organization move into the extra office space of a leading construct and design consultancy.

SwingSpace is excited to announce a key placement between leading Washington DC architecture firm, OPX and the DC office of social sports organization, ZogSports, LLC.

OPX is a construct and design consultancy that has helped organizations run better through architectural services. OPX, with their headquarters occupying the first two floors of 21 Dupont Circle, recently revamped their layout for greater efficiency. This revamped layout provided several pockets of office space that could be turned into swing space. “We decided that converting some of our vacant space to SwingSpace would contribute energy to the overall working environment, as well as reduce our overhead." said OPX Principal Ed Corr. “SwingSpace made it easy for us to find an ideal subtenant, as well as finalize a simple agreement and collect rent. Having ZogSports move into a portion of our vacant space was a cultural fit and made immediate good neighbors."

ZogSports is a co-ed social sports league pushing young professionals in cities across the US to come together and have some active fun while simultaneously giving back to the community. When ZogSports was scrambling for a new and more suitable home in DC, OPX’s swing space was the perfect fit. SwingSpace allowed ZogSports to find their new DC location according to their immediate needs and self-defined terms within 10 days.

According to ZogSports General Manager, Kendra Hanson, “ My experience with Swingspace has been outstanding. When our company was told we had less than a week to move, we turned to Swingspace to help us with our office needs. Within a day they had showed us multiple options that would work for our group. Not only were they great spaces, but their staff was extremely helpful, friendly and knowledgeable about the area. We were able to close a new space within a few days and are now settled into our new, beautiful space. In addition to getting us the space, they have been helpful with moving, setting everything up, and making sure all our needs are met. I recommend them to anyone looking for office space!

About SwingSpace

SwingSpace brings the benefits of the shared economy to commercial real estate by offering highly customizable office space searches, with vibrant photos and first-of-its-kind video tours. Tenants can find a full range of workplace options including coworking spaces, traditional office suites and extra office space in an existing tenant’s space. SwingSpace streamlines all aspects of the office leasing process, including providing simple, pre-negotiated leases, into one turn-key service.

SwingSpace, LLC, a licensed broker, was founded by Richard McBride, a 30+ year commercial real estate veteran, President and founder of McBride Real Estate Services, Inc., with Zak Kidd, President and founder of Dupont Studios. SwingSpace is backed by a coalition of Washington, DC’s leading commercial real estate owners, brokers and service providers.

SwingSpace plans to expand service beyond Washington, DC during 2016 and 2017.

How A Real Estate Exec and an Entrepreneur Will Change DC's Co-Working Spaces
2/16/2016 - Eric Hal Schwartz (Staff Writer)

Startup companies' pressing need for office space has driven innovation in co-working spaces and incubators like never before. Yet commercial real estate often seems to be slow to respond to evolving needs of growing startups. But D.C.-based SwingSpace is eager to prove that commercial real estate's reputation for being behind the tech and startup curve doesn't always have to be true.

"We started talking a year ago when we started to see this need," said SwingSpace co-founder Richard McBride in an interview with DC Inno.

A long-time success in commercial real estate, McBride teamed up with Zak Kidd, a serial entrepreneur and founder of Dupont Studios, to turn that discussion into reality.

"There was a gap across the commercial real estate industry we wanted to fill," McBride said. "The question on everyone's mind though was the details. How do you make this work?"

The answer was to create an office space leasing platform for the D.C. area, built and informed by the same kind of commercial real estate brokers and lawyers that startups like Kinglet were founded to circumvent and transcend. Acting as a clearing house for offices with space to share and small companies in need of that space, SwingSpace fits into the idea of the sharing economy much like Airbnb. A key difference though, is that SwingSpace was created with the help of commercial real estate lawyers to make sure that all of the regulations surrounding commercial real estate are handled.

"We put it together in a collaborative way with with the industry," McBride said. "It shows others in this industry why there is so much opportunity here. It could be a single desk or a couple of thousand square-feet, but these tenants won't fall through the cracks anymore."

Office space in D.C. generally falls into the categories of co-working spaces or traditional offices, but the desire for something else has become harder to ignore. It was an issue for Kidd when searching for space for Dupont Studios, part of his journey toward partnering with McBride.

"There's lots of co-working options are happening in city to respond to the need of tenants looking for small spaces," Kidd said. "But we're unique."

At first glance, that uniqueness is questionable. SwingSpace certainly shares many similarities with the JLL-backed HiRise in terms of who it appeals to and some of its operation. Both are clearly products of people who understand real estate collaborating with people who don't understand why real estate hasn't caught up with the 21st century. Nonetheless, Kidd argues that it's the differences that matter, and that will make SwingSpace stand out, especially in the D.C. area. He points to the half a dozen or so investors, though he wouldn't name names, that SwingSpace has attracted of proof its model will stand out.

"The real key difference comes from our team and investors," Kidd said. "The DNA of a company matters and they all come from the D.C. commercial real estate space. We're focused on getting traction in D.C."

There's a lot to offer, literally, when it comes to office space. According to McBride and Kidd, five million square feet, about ten percent of all office space in the D.C. market, is currently unused. A dozen of major real estate firms like Cushman & Wakefield, Transwestern, Douglas Development and McBride's own company are contributing their extra space to the platform. The plan as SwingSpace takes off in D.C. is to apply the same model in other cities although McBride and Kidd wouldn't reveal which ones are on the list just yet. The rapid mushrooming of new co-working spaces gives plenty of evidence there is figurative room for the literal space offered by SwingSpace.

"Co-working is cool and exciting, but it's not for everyone," McBride said. "We're increasing that competition and that's better for everyone."

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How SwingSpace is updating the commercial real estate market
2/11/2016 - Tajha Chappellet-Lanier (Reporter)

When you deal in real estate, it’s good business to have an attractive piece of it yourself.

On the 7th floor of 21 Dupont Circle I’m ushered in to a conference room with floor-to-ceiling glass and panoramic views of the city below. “This is where I take people when I want to impress them," SwingSpace COO and cofounder Zak Kidd tells me.

I can see why.

SwingSpace, which launched at the end of January, is the brain child of Kidd, a serial entrepreneur, and Richard McBride, a long-time commercial real estate broker. Essentially it’s a platform that allows landlords, and some tenants, to easily lease unused space in their offices to small companies in search of some space — perhaps only for a week, perhaps for longer. It’s like “the Airbnb of office leasing," McBride said. And somewhat similar to the Baltimore-based Kinglet.

Kidd and McBride met at a Fosterly networking event years ago, when Kidd was in the process of searching for more space for his growing film and software development company, Dupont Studios. As it turned out, McBride had some extra space.

And not only did McBride have extra space himself, but being in the commercial real estate market he happened to know that about 5-10 percent of the roughly 470 million square feet of office space in D.C. is lying empty at any given time.

Those in the know call it “phantom space."

This “phantom space" lies empty for a variety of reasons. On the one hand, in the commercial real estate market, five- to 10-year leases are the norm. But if you’re a growing company, let’s say a startup, a lot can change in five or 10 years. It’s easy to scale up or down your workforce depending on circumstance or need, but it is not easy to scale up or down your workspace.

So what happens is that companies lease spaces that are too big, hoping to “grow into" them. “A lot of business owners have extra space," McBride said. “They just don’t know what to do with it."

On the other hand, brokers are unlikely to help tenants find people to sublease unused space (even if the terms of their lease permit), because it’s just not a good return on investment. “It’s like trying to live just on bamboo shoots," McBride explained. “Yeah, like a panda," Kidd chimed in.

At this point I’d like to take a step back and introduce Kidd and McBride, as a team.

Kidd, you may have guessed, is the tech guy. He created the SwingSpace site, and oversees the filming of a walk-through video that’s posted with each listing. McBride is the industry guy. He’s got many connections in the commercial real estate world, with landlords, tenants and fellow brokers.

But even beyond their distinct roles, Kidd and McBride contrast and complement each other in myriad ways. Kidd is tall and warm and hospitable and even-keeled and maybe a bit cerebral, while McBride is springy and energetic and moves quickly, propelled by seemingly unstoppable enthusiasm. In the minutes we talk, he delivers a lot of great one-liners.

OK, back to SwingSpace.

Years after their initial meeting, Kidd and McBride decided that there was something missing in the commercial real estate market, and that they could use technology to solve the problem. SwingSpace was born.

It works like this: Landlords, and tenants whose leases permit, can list available space on SwingSpace for free. Potential lessors take a video tour, then apply online. Simple. The spaces are generally 2,500 square feet or less and already built out.

And SwingSpace isn’t trying to displace brokers, or anything. In fact, their listings benefit from the help McBride’s traditional commercial real estate contacts. The company is seeking to streamline a process brokers traditionally don’t do very well, and perhaps don’t want to be doing either. Recall the “living off bamboo" comment above.

On the tenant side, Kidd tells me companies that look for space on SwingSpace are between the coworking stage and the leasing their own office stage. Maybe they’ve outgrown coworking, or it’s not a good culture fit or they just want some privacy. “It’s like a bird," McBride illustrated. “You get big enough you’ve gotta leave the nest."

SwingSpace is now an option for spreading those proverbial wings.

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